Group14 Closes €150M Series D Extension, Picks Spain for BAM-4

Group14 Technologies, a manufacturer of advanced silicon battery materials, announced on 29 October the close of a €150 million (about $169 million) extension to its Series D equity round. The money comes from a new investor who has not been named, and it lifts total Series D funding past $665 million.

As part of the financing, the company will bring production of its flagship SCC55 silicon-carbon material to Europe. It has selected Sagunto, Spain, as the site for its next industrial-scale module, called BAM-4, which will start with 10 GWh of capacity.

A three-continent production network

BAM-4 joins facilities in Asia and North America. BAM-3 in Sangju, South Korea, a 10 GWh module, is already running and ramping up. BAM-2 in Moses Lake, Washington, will add two modules totaling 20 GWh and is due to begin production in 2027. Together with BAM-4, the company says its near-term capacity will reach 40 GWh. Group14 has also operated a commercial pilot plant, BAM-1, in Woodinville, Washington, since 2021, supplying SCC55 to more than 150 customers.

Spain is Europe's second-largest car-producing country, which places the plant close to the supply chains of major European automakers. The company argues that a broad footprint shields battery supply chains from regional disruptions, shortens time to market and allows local support for partners in North America, Asia and Europe.

Why it matters

Co-founder and CEO Rick Luebbe said battery material makers must sit where batteries are made, and that the Spanish site reflects a strategy of building near key customers with stable local supply chains. He described BAM-4 as a platform for faster European expansion alongside growth in the US and Asia.

SCC55 is designed to deliver higher energy density and faster charging regardless of battery chemistry, and the company says it is already used in smartphones, drones, hypercars and eVTOL aircraft. Group14 cites a portfolio of more than 200 global patents and a long-term goal of hundreds of GWh of capacity over the next decade, aimed at demand from automotive, consumer electronics, data center, aerospace and defense manufacturers.